A carbon registry on Wednesday officially launched its biodiversity credit programme, inviting project developers to join its two-year pilot phase.
The framework, announced by Iceland-based the International Carbon Registry (ICR) during the ongoing COP16 UN biodiversity summit in Cali, Colombia, will also undergo consultations until Dec. 31, with all market participants encouraged to submit feedback.
“We are proud to launch this pioneering programme … and we invite everyone to participate,” said Gudmundur Sigbergsson, CEO of ICR.
“The biodiversity programme is designed to create measurable, high-impact outcomes for biodiversity conservation and restoration on a global scale, with transparency and integrity at its core.”
Over the next two years, ICR aims to roadtest key elements of its programme, such as biodiversity impact quantification methods, additionality and permanence requirements, stakeholder consultation processes, and project documentation and validation procedures.
“This pilot approach allows the programme to evolve and adapt based on real-world experience and in response to developments in the rapidly growing biodiversity credit marketplace,” said the programme requirement document.
“The goal is to ensure that the programme is robust, workable, and effective for catalysing investment in high-quality biodiversity conservation projects worldwide.”
THE METHODOLOGY
As was anticipated by Carbon Pulse last month, ICR will adopt the biodiversity unit developed by US-based Savimbo, which corresponds to one hectare of land conserved for one month.
Ecosystem integrity will be measured on a scale from zero to one, with project achievements certified by a third-party verification body.
Under the programme, eligible activities include species conservation and recovery, ecosystem conservation and restoration, invasive species management, and sustainable land management, and the use of credits for offsetting purposes should be avoided, according to the document.
Projects will be divided into four categories – bronze, silver, gold, and platinum – based on the underlying biodiversity density, the threat of degradation, and geographical location, with the last two categories set to be prioritised during the pilot phase.
Savimbo’s units were also recently selected by the Colombia-based environmental standard Cercarbono for its Biodiversity Certification Programme Protocol (CBCP), among the first finalised biodiversity crediting frameworks.
Other major standards are also at various stages in the process of defining their own programmes, including Verra, which is expected to present its Nature Framework at the COP16 summit.
By Sergio Colombo in Cali – sergio@carbon-pulse.com
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